Wells Fargo CFO Sees Promise in 'Selective Acquisitions'

Originally published on Fox Business. Wells Fargo & Co (WFC: 30.46, +0.36, +1.18%) can continue to grow through "selective acquisitions" as European banks shed loans and business units, the bank's chief financial officer said on Wednesday. In 2011, the fourth-largest U.S. bank bought $3 billion in U.S. commercial loans from Irish banks and purchased asset-based lender Burdale Capital Finance Inc. Last month, it agreed to buy BNP Paribas SA's energy lending business in a deal that is expected to close in the second quarter. The San Francisco-based bank has capitalized on opportunities to buy loans and businesses from European banks forced to met higher capital requirements. Continue reading this article here.